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jpburke1006
New Member

Shouldn't the application of the standard deduction reduce the amount of taxable income and, therefore, reduce our amount owed? It didn't budge and I can't figure out why

 
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KatherineC
New Member

Shouldn't the application of the standard deduction reduce the amount of taxable income and, therefore, reduce our amount owed? It didn't budge and I can't figure out why

The Standard Deduction is automatically applied.  You may not have noticed a change because that deduction had already been accounted for. 

Preview your return so you can look at your Form 1040.  You will be able to see the income and which lines the amounts were reported on, any deductions from income and on the second page you will see the Standard Deduction on Line 40 and the Exemptions on Line 42.

This should help you pinpoint if there is a problem and if so, what area of your return it's showing up on.

You can preview your tax return.  You need to be inside your tax return as you follow the steps below. 

  • Please click on Tax Tools in the column on the left side of your Turbo Tax screen. 
  • Then click on Tools; (See the screenshot below)
  • Then View Tax Summary (See the second screenshot below)
  • Click on "Preview my 1040" in the left column. (See the third screenshot below)

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